Issue link: http://read.dmtmag.com/i/538372
Summer 2015 — www.ncsf.com 9 Not present: National Vice President Sally Egan. Rosalie Pyle was sworn in as a national director. Motion presented by Jeanne Filipp, the finance committee moves that the NCSF contract with Andesa Services to provide a new policy administration system, a new business portal and illustration software, with amended costs as of May 20, 2015 be approved. Motion adopted 9-0. Motion was made by Lisa Bickus representing the finance committee to rescind the motion made on May 11 raising the annuity rate. Motion adopted 9-0. Presented by Lisa Bickus from the finance committee moves to: Raise the renewal rate on annuities from 2.25% to 3.00%, effective June 1, 2015. Finance committee will review the annuity rates monthly to determine if the threshold of $10,000,000.00 is adequate or if annuity rates will need to be adjusted to maintain sufficient profitability. Motion adopted 9-0. No change to current first year annuity rates, which are on the flyer dated 10/1/2014. Lisa Bickus stated that the investment policy statement is completed and will be sent to the Board before the June board meeting. Discussion of the simplified issue and graded products was held. Meeting adjourned at 9:11 p.m. ACTUARY REPORT: Actuary for NCSF Lori Newberg from Miller and Newberg Consulting Actuaries presented her appointed actuary report to the Board. Joe Steimla Sr. and Joe Steimla Jr. were present and talked about the final expense products. He gave an overview of how a product is built and priced. Robert Hughes and Ronald Feiereisel from the audit firm of Frank J. Baker and Company, LTD presented their management letter and the report on audit of statutory financial statements for the years ended Dec. 31, 2014 and 2013. The audit committee gave their June report to the controller of the recommendations and open items from their findings from the March 2015 disbursement audit. Discussion ensued. SALES REPORT: Sales Director Victor Mensavage gave his sales report. Meeting recessed at 5:30 p.m. Friday, June 5, 2015 The June quarterly meeting of the Board of Directors of the National Catholic Society of Foresters was called to order by National President Margaret Schmitt on Friday, June 5 at 8:15 a.m. in the home office board room. Pledge of Allegiance was said. Roll call was taken. Present were National President Margaret "Peggy" Schmitt, National Vice President Sally Egan, National Secretary Catherine "Cathy" Hensel, National Treasurer Lisa Bickus and National Directors David Bonacker, Terence "Patrick" Coleman, Jeanne Filipp, Rosalie Pyle, Sandra Troyanoski, Maria Tupaz while Jane Uselman joined us by skype. Spiritual Director Father Curt Lambert, Pastor at St. Alphonsus Liguori Parish of Prospect Heights, Illinois gave a reflection on family based on the document "The Vocation and Mission of the Family in the Church" from the USCCB. There will be a synod on the family in Rome in October 2015. Family is the domestic church and from those churches we get the larger church. TREASURER REPORT: Lisa Bickus presented the treasurer's report and gave the 1st quarter investment portfolio overview using our Investment Manager Parkway Advisors. Controller Frank Janczak presented the 1st quarter 2015 financial statement. He also included actual to budget 1st quarter report. Audit committee gave a report on the controller's response to the report to the Board of March 2015 audit. The audit Celebrating Back-to-School ST. JOHN BAPTIST DE LA SALLE, 1651 to 1719 Patron Saint of Teachers John Baptist de la Salle was born at Rheims, France on April 30th. He was the eldest of ten children in a noble family. He studied in Paris and was ordained in 1678. He was known for his work with the poor. He died at St. Yon, Rouen, on April 7th. He was canonized by Pope Leo XIII in 1900. St. John was very involved in education. He founded the Institute of the Brothers of the Christian Schools (approved in 1725) and established teacher colleges (Rheims in 1687, Paris in 1699, and Saint-Denis in 1709). He was one of the first to emphasize classroom teaching over individual instruction. He also began teaching in the vernacular instead of in Latin. His schools were formed all over Italy. In 1705, he established a reform school for boys at Dijon. John was named patron of teachers by Pope Pius XII in 1950. continued on page 10